The Bond and Precious Metals are starting the week to the downside; the balance of the BEGOS Markets are within today’s Neutral Zone, and volatility is pushing toward moderate; Gold already has traced 75% of its EDTR (see Market Ranges). The Gold Update accounts for 19 fresh points of premium in the April contract, but remains wary of some near-term price setback; too, mention is made of Dot-Com-like worries by Big Banks, (an issue upon which we’ve repeated these last several months). The “live” (futs-adj’d) P/E of the S&P 500 is 51.0x: 98 earnings reports are scheduled for the Index this week. The Econ Baro begins a very light data week with January’s ISM(Svc) Index.